Fed Governor Michelle Bowman said she expect ongoing increase in rates at coming meeting. But, it will be “appropriate” to slow the pace of tightening. That will allow policymakers to full assess the impact of their actions.
Also, “we’re still seeing extremely high levels of core and CPI inflation,” she said. “Until I see our actions actually having some impact that would lower the rate of inflation, I think my expectation would be a slightly higher” terminal rate than projected back in September.